Download or read book The Relationship Between Corporate Governance Board Characteristics and Financial Performance of South African JSE Listed Companies in the Construction and Building Materials Sector written by Netsayi Landie Jingura and published by . This book was released on 2019 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relationship Between Corporate Governance and Company Performance written by Anusha Rambajan and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance and in particular, the role of the board of directors, have been placed at the centre of attention due to the recent well-publicized corporate scandals (Adams, Hermalin, & Weisbach, 2009). In South Africa, both the King II and recently published King III reports emphasise the importance of the board of directors, as being the crucial aspect of the South African corporate governance system (Institute of Directors, Southern Africa, 2002, 2009). The aim of this study was to determine the relationship between corporate governance and company performance. This was achieved by defining six specific characteristics of the board of directors in relation to corporate governance (independent variables of board independence, CEO-Chairman duality, staggered boards, board size and the presence and composition of the board remuneration committee), as well as identifying five company performance measures (dependent variables of net profit margin, return on equity, return on assets, share price and dividend payout). In reviewing the available literature, it was found that there is a lack of an appropriate and publicly available corporate governance measurement tool in South Africa. The Delphi technique was used to garner the views of four experts in the corporate governance field, in order to obtain their views as to what constitutes the research selected independent variables. The emergent themes from these interviews guided the measurement of these board variables and empirical testing against the selected company performance measures using the 21 Consumer Goods Companies listed on the Johannesburg Stock Exchange with published financial statements over the time period commencing on 01 January 2006 and ending on 31 December 2010. The overall results of this study indicate that the vast majority of board selected variables relating to corporate governance had a positive relationship with company performance. Of the six independent variables selected for testing, board independence, board size and composition of the board remuneration committee were found to have statistically significant relationships with the dependent variables of company performance, while the presence of a board remuneration committee indicated a moderate relationship (with only return on assets and net profit margin indicating a significant relationship) and staggered boards revealed no statistical significant difference. The relationship between CEO-Chairman duality and company performance could not be assessed, due to the sector data set revealing only one instance in which this duality existed.
Download or read book Corporate Governance in South Africa written by Warren Maroun and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-04-20 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an examination of corporate governance in South Africa which includes an overview of the history of corporate governance and summary of the key provisions of South Africa’s codes on corporate governance from 1994 to 2016. The aim is to provide a comprehensive reference for academics and practitioners interested in South African corporate governance and to illustrate how corporate governance practices evolve in a developing African economy. It also includes a review of the research dealing with the drivers and consequences of South African corporate governance. The focus is on South African-specific research which is complemented with international references. This book will be highly relevant to both accounting/governance academics and the broader practitioner community.
Download or read book Corporate Governance written by Ramani Naidoo and published by Juta and Company Ltd. This book was released on 2002 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: provide management and directors of companies, both private and public, with a reference work on the most important principles of corporate governance. It discusses the requirements of the Companies act, the recommendations of the 2002 King Report and recent requirements for directors of public-sector enterprises. Throughout the author makes clear how the relevant principles can be practically and progressively implemented.
Download or read book Internal Corporate Governance Structures and Firm Financial Performance written by Collins Gyakari Ntim and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contains the findings of an examination of the relationship between internal corporate governance structures and the financial performance of South African listed firms. Specifically, using a sample of 100 South African listed firms from 2002 to 2006 (a total of 500 firm-year observations) and corporate governance data collected directly from company annual reports, the thesis seeks to ascertain whether better-governed listed firms tend to be associated with higher financial returns than their poorly-governed counterparts. Unlike prior studies, the internal corporate governance-financial performance nexus is investigated by applying both the compliance-index and equilibrium-variable research methodologies. The results based on the compliance-index model suggest that there is a statistically significant and positive association between the quality of the sampled firms? internal corporate governance structures and their financial performance. This finding is robust whether an accounting (return on assets) or a market (Tobin?s Q) based measure of financial performance is used. Distinct from prior studies, an analysis of the impact of complying with the South African context specific affirmative action and stakeholder corporate governance provisions on the financial performance of South African listed firms is also investigated. The results indicate that compliance with the affirmative action and stakeholder corporate governance provisions impacts positively on the performance of South African listed firms. By contrast, the results based on the equilibrium-variable model are generally mixed. First, regardless of the financial performance measure used, board diversity, the frequency of board meetings, and the establishment of board committees except the presence of a nomination committee seem to have no impact on firm financial performance. Second, board size is statistically significant and positively associated with Tobin?s Q (Q-ratio), but statistically insignificant and negatively related to return on assets (ROA). Third, role or CEO duality is statistically significant and positively related to ROA, but statistically insignificant and negatively associated with the Q-ratio. Director shareownership is statistically insignificant and positively related to ROA, but statistically significant and negatively associated with the Q-ratio. Finally, the findings based on both the director shareownership squared and cubed do not support the statistically significant non-linear director shareownership-financial performance association reported by Morck et al. (1988). The findings from a series of robustness or sensitivity analyses carried out suggest that the empirical results reported are generally robust to potential endogeneity problems.
Download or read book The Relationship Between Corporate Governance and Financial Performance of Companies Listed on the JSE LTD written by Victoria Anne Ashwin and published by . This book was released on 2015 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance and Performance written by James Aboge and published by LAP Lambert Academic Publishing. This book was released on 2012-07 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kenyan government like many others in the world, started corporate governance reform initiatives that led to the formation of the Capital Markets Authority (CMA.) CMA has since issued extensive regulations and guidelines for publicly listed companies targeting corporate boards largely. Whether such guidelines benefit shareholders has never been tested. This study investigates the relationship between board characteristics and financial performance for the companies listed on the Nairobi Securities Exchange. Financial performance was measured by Tobin's Q, ROE, EPS, and DPS while the Board Characteristics considered were board independence (outside dominated boards), board quality (board expertise and educational background) and the board diversity (the ethnic/racial, gender and age balance.) The study finds very interesting relationships between Board independence, Gender diversity and firms financial performance but amazingly discovers that Board quality has no significant impact on performance unless in very specific circumstances. The book offers very interesting insights on corporate governance theories and practices and is very useful for corporate leaders and regulators.
Download or read book The Impact of Board Structure on the Financial Performance of Listed South African Companies written by Erik Meyer and published by . This book was released on 2014 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study focuses on the role of the corporate board of directors and the relationship between the dynamics of board structure and the financial performance of listed South African companies. The research results found that the proportion of independent non-executive directors had a significant positive effect on firm performance as measured by earnings per share and enterprise value, but had no significant effect on Tobin's Q ratio. Board ownership had a significant negative correlation with firm performance as measured by earnings per share, enterprise value and Tobin's Q ratio. The number of directors serving on the corporate board had a significant positive impact on firm performance as measured by earnings per share, enterprise value and Tobin's Q ratio. The study suggests that greater independent non-executive director representation, lower board share-ownership and larger board sizes should be encouraged to enhance firm performance.
Download or read book Corporate Governance 5ed written by Tom Wixley and published by Siber Ink. This book was released on 2018-02-28 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: What does Corporate Governance mean in the post Steinhoff-collapse era in South Africa? It has become more important than ever, and this established work by top directors from accounting and legal backgrounds is an essential handbook for all Company Directors, their advisers, and those who have aspirations to be business leaders.A new & significantly expanded edition of this leading reference on Corporate Governance in South Africa, this book incorporates a new and comprehensive Summary of the King IV code, as well updated examples and current thinking on an increasingly important sphere.
Download or read book The Effectiveness of Boards of Directors of State Owned Enterprises in Developing Countries written by Maria Vagliasindi and published by World Bank Publications. This book was released on 2008 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper aims to shed some new light on the conditions needed to ensure the effectiveness of Boards of Directors of state owned enterprises with a focus on infrastructure sectors. In the case of developing countries, empirical studies have found evidence of positive links between the composition of the Board of Directors and financial performance. Yet the lack of solid theoretical foundations, and in some cases poor data availability, makes the conclusions of most studies weak. Several policy recommendations emerge from the review of the economic literature and evidence from case studies. First, the introduction of a sufficient number of independent directors emerges as an important corporate governance milestone. Empowering them to exercise effective monitoring of management, however, may prove to be a formidable challenge for of state owned enterprises. More attention to board procedures, particularly related to the Board selection and evaluation process, is essential, to produce the necessary insulation of Boards from government interference. Ensuring sufficient continuity of services to directors is particularly crucial to improve corporate governance. In addition, other factors that may reduce directors' ability to monitor corporate activities, such as the age profile and the number of Boards on which they sit, need to be handled more carefully.
Download or read book Corporate Governance and Performance in Africa written by Nicholas Letting and published by LAP Lambert Academic Publishing. This book was released on 2012-05 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The separation of ownership and control of corporations lies at the core of the debate on the involvement of Board of Directors (BoDs) in strategic decision-making and the influence of board attributes on corporate performance. Corporate governance scholars and practitioners have argued that individual board member demographic characteristics as well corporate board composition influence firm performance. Despite the increased focus on BoDs' contribution to the corporate performance, little research exists in developing countries especially in Africa. This publication therefore seeks to contribute to knowledge by assessing the relationship between BoDs' attributes, strategic decision-making processes and corporate performance among the listed firms in Kenya. The study used an integration of agency, stewardship, resource dependency and stakeholder theories of corporate governance. Scholars and Practitioners will find it useful for their reference and further research in Corporate Governance in Africa.
Download or read book Corporate Governance Boards of Directors of State Owned Enterprises An Overview of National Practices written by OECD and published by OECD Publishing. This book was released on 2013-05-30 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sheds light on good practices concerning boards of directors of state-owned enterprises. It draws on national practices from over 30 economies.
Download or read book The Impact of Reported Corporate Governance Disclosure on the Financial Performance of Companies Listed on the JSE Securities Exchange South Africa written by Andrew Abdo and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effect of Board Characteristics on the Sustainability Performance of Selected JSE Listed Companies in South Africa written by Macheleng Vanessa Nakeng and published by . This book was released on 2019 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Board Characteristics on Corporate Governance and Disclosure Practices of Firms Listed in Indian Stock Exchange written by Pankaj M. Madhani and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of internal corporate governance mechanisms such as board characteristics plays a crucial role in explaining variation in corporate governance and disclosure practices across firms. The effectiveness of such corporate governance mechanism in maintaining healthy relationship between management and shareholders depends significantly on the board effectiveness. Two major attributes that affect a board's effectiveness are the board size and its composition. Board size refers to the total number of directors who sit on the board of a company, while board composition refers to the type of directors on the board. Hence, this paper focuses in this direction and identifies the relationship between board characteristics, i.e., board size and board composition and corporate governance and disclosure practices of firms listed in the Bombay Stock Exchange (BSE).
Download or read book Board Characteristics and Firm Performance written by Masood Fooladi and published by . This book was released on 2013 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on agency theory, the importance of Corporate Governance (CG) is to reduce agency conflicts between those who control and those who own the residual claims in a firm. In other words, CG as a mechanism helps to align management's goals with those of the stakeholders that are to increase firm performance. Since, the value creation of CG can be measured through the firm performance; the aim of this study is to answer this question: "Is there any relationship between CG and firm performance?" Therefore, the four board characteristics that are of interest in this study are board independency, CEO duality, ownership structure, and board size. Based on a randomly selected sample of companies listed on Bursa Malaysia and applying the linear multiple regression as the underlying statistical tests, it is found that CEO duality has a negative relationship with firm performance (Return on Equity and Return on Asset) but there is no significant relationship between board independency, board size and ownership structure as independent variables and firm performance as dependent variable.
Download or read book Corporate Governance Board Practices Incentives and Governing Risks written by OECD and published by OECD Publishing. This book was released on 2011-08-02 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines how effectively boards manage to align executive and board remuneration with the longer-term interests of their companies.
